Just not make payments or file Bankruptcy?
Posted on Jan 01, 2012 with Comments 0
sudymay asked:
My debt is too large to negotiate with the credit card companies. My only income is disability. I qualify for chapter 7. I have consulted with an attorney and he wants me to file. I still think it would be better to just live with the bad credit rather than have a bankruptcy on my record. I was told bad credit could keep me from helping my daughter(age 12) with a student loan for university; however, they would give the loan if a bankruptcy had been filed. Doesn’t make sense to me. I really would rather just not pay the credit cards instead of doing bankruptcy. Pros vs. cons.?
My debt is too large to negotiate with the credit card companies. My only income is disability. I qualify for chapter 7. I have consulted with an attorney and he wants me to file. I still think it would be better to just live with the bad credit rather than have a bankruptcy on my record. I was told bad credit could keep me from helping my daughter(age 12) with a student loan for university; however, they would give the loan if a bankruptcy had been filed. Doesn’t make sense to me. I really would rather just not pay the credit cards instead of doing bankruptcy. Pros vs. cons.?
Either way it stink and I just want to make a good choice for the future. I feel like I can take-on the battle against the black-marks on my credit (after the 6-7 year statute of limitations for collections) better than having a bankruptcy show-up everywhere. It is like the first question on every document that a person fills out. It doesn’t seem like everyone asks if you have bad credit.
Adolfo Pilarz
Filed Under: Credit
